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FOR ADDITIONAL INFORMATION CONTACT:
DAVID MARGULIES/JIM LAWRENCE/DAN GIBSON (214) 368-0909
AMERISERVE TO SELL CHICAGO CONSOLIDATED CORPORATION ASSETS
AND MEXICAN DISTRIBUTION OPERATIONS
DALLAS (Oct. 9, 2000) - AmeriServe Food Distribution, Inc. announced today
it has signed an agreement to sell the assets of Chicago Consolidated
Corporation ("CCC") to Consolidated Distribution Corporation for approximately
$12,500,000 (subject to certain adjustments relating to inventory levels). CCC
is AmeriServe's redistribution company.
In a separate transaction, AmeriServe and CCC signed an agreement to sell
the stock of PFS de Mexico S.A. de C.V. and Servicios AmeriServe, S.A. de C.V.
to Pacific Star, S.A. de C.V. and Pacific Star Holding, S.A. de C.V. for
approximately $5,000,000 (subject to certain adjustments relating to working
capital). PFS de Mexico and Servicios AmeriServe are AmeriServe's distribution
companies in Mexico.
"These transactions are another positive step forward in AmeriServe's
ongoing efforts to maximize value to our creditors, while continuing to serve
our customers and employees well," said Ron Rittenmeyer, AmeriServe's President
and Chief Executive Officer. Both the CCC asset sale and the Mexican stock sales
are subject to, among other conditions, U.S. Bankruptcy Court approval.
AmeriServe, headquartered in Addison, Texas, a suburb of Dallas, is one of
the nation's largest distributors specializing in chain restaurants, serving
leading quick service systems such as KFC, Long John Silver's, Pizza Hut and
Taco Bell.
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